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Netradyne, a SaaS provider of artificial intelligence (AI) and edge computing, has announced the close of a $90 million Series D funding round.
The round was led by Point72 Private Investments with participation from Qualcomm Ventures and Pavilion Capital.
The startup plans to use the raised capital to accelerate its growth trajectory through strategic investment in R&D, enhanced go-to-market investments, and aggressive global expansion.
What does Netradyne do?
Founded in 2015 by Avneesh Agrawal (CEO) and David Julian (CTO), Netradyne is an AI-powered fleet safety and video telematics solutions provider that offers a comprehensive and accurate assessment of driver performance by analyzing 100% of drive-time data.
Powered by advanced AI, the startup's flagship product Driver•i delivers unparalleled accuracy in identifying both positive and negative driving behaviors, fostering trust and enabling effective in-cab coaching.
In addition to promoting safer driving, these capabilities help fleets shield drivers from false claims, minimize collisions and insurance costs, optimize productivity, and simplify compliance management.
It serves customers across the United States, Canada, Mexico, Germany, the U.K., Australia, New Zealand, and India.
What did investors say?
"Investing in Netradyne is about believing in safer roads and supporting professional drivers. Since our initial investment in 2018, we've witnessed Netradyne's impressive growth and believe their technology is well-positioned not only to empower fleet managers but also to foster a culture of safe driving. We are excited to continue our partnership with Avneesh and the Netradyne team as they advance their mission to transform the global transportation industry," said Sri Chandrasekar, Managing Partner at Point72 Private Investments.
“The successful completion of our Series D funding round is a significant milestone for Netradyne and a testament to the confidence our investors have in our vision and innovative approach to AI-powered fleet safety solutions. This funding provides us with the resources to accelerate growth, expand our technology capabilities, and deliver even greater value to our customers worldwide. With this support, we are poised to scale our innovations globally, deepen our impact, and continue advancing safety and efficiency across the transportation industry, redefining what’s possible for fleets and communities alike," said Avneesh Agrawal, CEO and Co-Founder at Netradyne